Posts tagged ‘best location’

Choose Main Street not Cheap Street

Are you considering starting a small business. Have you considered opening a bookstore? This is one business that will bring you a lifetime of joy but not much income unless you develop a knack for spotting high priced books that will sell online. It's a strange skill that is a little hard to describe.

The first step you'll need to take is to read all that you can on starting a bookshop. You'll also want to read a few key books. Get whatever you can on bootstrapping a business. Also look for as many Seth Godin books as you can as well as eMyth Revisited. These will all be a great help. Once you get your head aroung the idea you need to come up with a plan and search for a location. Let me give you one rock solid piece of advice that will have more impact on the long term success of your business that all the other decisions that you'll make. If you haven't guessed it, I'm talking about location. I have spoken to literally hundreds of book sellers, both successful ones and many that have closed their shops.

Many new business owners, and this applies to most small retail shops, make the same mistake. They think that the number one thing to do is to keep expenses to a minimum. So they look for a place that is just around the corner from main street. It's close to all the traffic and the rent is half price. They think that they will need to sell much less to cover the expenses. The big problem is that although the rent will be half price their sales will be one tenth that of a Main street shop. People will not make that extra walk around the corner. They'll pop in if they find themselves standing by your door but they won't walk an extra block. Please take that advice to the bank and get your shop properly located on the corner of Main and Profits.

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